RE: Newbie26 Jan 2021 20:46
Great posts from Ramjax & Coldjoe.
I just wanted to add, for me management is key. Arian Silver as it was called when you started investing was very poorly managed by the brothers Jim and Tony Williams.
The thing that made the SP rocket to £5 was the price of silver heading to it’s ATH of $50 and Arian Silver being the best junior silver play on LSE. But then metal prices crashed and the company began to run out of working capital. They lost their Mexico silver mine to the creditors in 2015. The shares fell to a penny as the Williams duo shifted their focus to lithium exploration which turned out to be fruitless.
So a catalogue of disasters!
Bill has transformed the company. He got the x3 100%-owned high-grade Mexico projects out the drawer = Donovan2, San Celso & Los Campos.
Last year he completed the IP Surveys and sampling for all 3 projects.
Formed a JV with Capstone Mining for Donovan 2.
He selected x3 absolute winning projects = Hamersley, Elizabeth Hill and the Munni Munni North Tenement.
Completed the IP Survey and sampling at Hamersley.
Now in the process of unlocking the value of 5 projects.
As ColdJoe mentioned, investors (including myself) were happy to top up at 1.5p. The only thing that has kept the price at the consolidation range has been profit taking and impatience. The fundamentals have continued to improve day by day.
As Ramjax said silver has a lot of catching up to do with gold. When silver starts to really move, you will see the SP rocket again.
Even if silver stays the same level, Hamersley on its own this year will IMHO cause the SP to multibag.
UFO is incredibly undervalued. The JV last year was just a taste of things to come.